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Shares in SpiceJet has surged 8% to Rs 19 on BSE on media reports that cash-strapped aviation firm will provide a revival plan to the ministry of civil aviation today.
Ajay Singh, former promoter and director of SpiceJet, along with a consortium of foreign investors, was scheduled to give a proposal in this regards, a Business Standard report suggests quoting unnamed sources.
According to Bloomberg report, a private-equity unit of JP Morgan and Ajay Singh, who quit as a director of the airline in 2010, plan to buy the entire stake held by majority shareholder Kalanithi Maran.
The stock opened at Rs 18.65 and hit a high of Rs 19.50 on BSE. Around 7.6 million shares changed hands on the counter till 0942 hours on BSE.
Ajay Singh, former promoter and director of SpiceJet, along with a consortium of foreign investors, was scheduled to give a proposal in this regards, a Business Standard report suggests quoting unnamed sources.
According to Bloomberg report, a private-equity unit of JP Morgan and Ajay Singh, who quit as a director of the airline in 2010, plan to buy the entire stake held by majority shareholder Kalanithi Maran.
The stock opened at Rs 18.65 and hit a high of Rs 19.50 on BSE. Around 7.6 million shares changed hands on the counter till 0942 hours on BSE.
